Template-Type: ReDIF-Article 1.0
Author-Name: Martin Mandel
Author-Name: Vladimír Tomšík
Title: Mix monetární a fiskální politiky v České republice: empirická verifikace modelu efektivní tržní klasifikace
Title: Monetary and fiscal policy mix in the Czech Republic: empirical verification of the principle of effective market classification
Abstract: Monetary and fiscal policy should be paired with the economic objectives on which they have the most influence. The authors have transformed this traditional Mundell's principle of effective market classification into the conditions of the Czech economy - a small open economy with controlled floating exchange rate system and high inflow of foreign direct investment. An empirical verification confirmed the requirement of the modification of this principle in the CR. An application of the modified model in the CR resulted in the following recommendation for the Czech economic policy mix: monetary policy should control the external balance and fiscal policy the internal balance.
Keywords: monetary policy, fiscal policy, balance of payments, principle of effective market classification
Volume: 2001
Issue: 2
Year: 2001
File-URL: http://www.vse.cz/polek/205
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:2:id:205

Template-Type: ReDIF-Article 1.0
Author-Name: Ilona Bažantová
Author-Name: Marek Loužek
Title: Ekonomická a právní analýza nezávislosti a odpovědnosti centrálních bank
Title: Economic and legal analysis of independence and accountability of central banks
Abstract: The first part defines the terms "independence" and "accountability" and asks whether there is a direct or indirect relation between them. The second part brings quantification of central bank's institutional arrangements both in developed and transition economies. The third part describes theoretical foundations of central bank independence and accountability and analyses empirical research on this topic. The fourth part inquires the model of institutional arrangement in which the central bank has the completed operational independence but it has the limited goal independence (monetary policy's goals are set in agreements between the government and central bank). The fifth part asks the question whether the model proposed above complies or not with the European law.
Keywords: monetary policy, government, central bank, independence
Volume: 2001
Issue: 2
Year: 2001
File-URL: http://www.vse.cz/polek/206
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:2:id:206

Template-Type: ReDIF-Article 1.0
Author-Name: Antonín Rusek
Author-Name: William A. Ward
Title: Česka koruna nebo euro?
Title: Czech crown or eur?
Abstract: Moderate recovery of Czech economy in the first half of 2000 raises a question whether it is the beginning of a new era of economic growth or a mere cyclical motion. The balance of payments is the main obstacle of permanent economic growth; domestic savings should be increased substantially to tackle with it. Czech economy after the year 1993 is analyzed in this article while the balance of payments is identified as the main obstacle of permanent growth, and it is explained why the adoption of a foreign currency (EUR) would overcome this obstacle.
Keywords: economic growth, balance of payments, domestic savings, foreign currency
Volume: 2001
Issue: 2
Year: 2001
File-URL: http://www.vse.cz/polek/207
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:2:id:207

Template-Type: ReDIF-Article 1.0
Author-Name: Vladislav Flek
Title: Vliv osobních a finančních nákladů na podniky
Title: The impact of labour and financial costs on firms
Abstract: A simple model is developed with the aim of testing the efficiency of cost control in the key branches of Czech entrepreneurial sector (labour and financial costs are solely subject to analysis). In the period 1996 - 1999 the share of profits and depreciation in value added increased sligtly, predominantly due to a relative decrease in financial cost. At the same time, the impact of labour costs control on enterprise recapitalisation was rather insignificant. In general, producers failed in enforcing such a level of profitability which would a) diminish dramatically their dependecy on external financial resources; b) increase the attractiveness for capital allocation vis-ŕ-vis risk free assets such as government bonds.
Keywords: cost-push inflation, factor income distribution, financial costs, labour costs
Volume: 2001
Issue: 2
Year: 2001
File-URL: http://www.vse.cz/polek/208
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:2:id:208

Template-Type: ReDIF-Article 1.0
Author-Name: Emil Divila
Title: Agrární struktura v České republice - současný stav a předpoklady dalšího vývoje
Title: Agriculture structure in the Czech Republic - present state and outlook of its development
Abstract: The bulk of agribusiness enterprises in the CR are operations of artificial persons with production concentration. Businesses of natural persons farming on a great portion of farm land are also of large size. Businesses of smaller size, mostly using the family labor, largely prevailing in EU and receiving support from EU funds, are farming on a relatively small portion of land. This could have restrictive impacts on the availability of relevant support to Czech farmers after accession to EU. Further development of agriculture structure in the CR will constantly be influenced by competition of businesses of different type. The development will be affected in the next years by such factors as the sale of State-owned land and the duty of cooperative farms to settle their liabilities to entitled persons - nonmembers arising from property-right transformation.
Keywords: agriculture structure, natural and artificial persons, family farm, common agricultural policy, structural adjustment
Volume: 2001
Issue: 2
Year: 2001
File-URL: http://www.vse.cz/polek/209
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:2:id:209

Template-Type: ReDIF-Article 1.0
Author-Name: Vladimír Bezděk
Title: O jednom z možných scénářů reformy penzijního systému v České republice (polemika)
Title: On one of possible scripts of pension system reform in the Czech Republic (polemic)
Abstract: This article represents a critical response to the paper of J. Kubalčík and R. Zbořil published in Politická ekonomie, 2000, No. 4. It reviews some of the authors' assumptions and conclusions regarding the pension system reform in the Czech Republic. The attention is put on some macroeconomic issues as savings, labour market and tax systems with respect to the pension system reform. Also the microeconomic aspects are significant and should be taken into account when discussing the pension system reforms. The article concludes that pension system reform is a very difficult and complex task. That is why it is highly recommended to develop more detailed and sophisticated models covering the whole range of pension system benefits.
Keywords: savings, PAYG, pension system, pension reform, pension fund, pension models
Volume: 2001
Issue: 2
Year: 2001
File-URL: http://www.vse.cz/polek/210
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:2:id:210

Template-Type: ReDIF-Article 1.0
Author-Name: Dan Šťastný
Title: Protekcionismus:  ptolemaiovský  systém populární ekonomie
Title: Protectionism: "ptolemaic" system of popular economics
Abstract: The paper points out the blatant discrepancy between economic theory and economic policy on the question of protectionism. From the Austrian perspective, it tries to identify flaws in the most frequently used arguments in favor of protectionism: unemployment; balance of payments (deficit of); reciprocity; dumping (protection against); optimum tariff and infant industry. It concludes by noting that in spite of centuries of trying, economists haven't succeeded in eradicating the myths about protectionism and that these old myths are still present in most public discussions on the trade issues.
Keywords: balance of payments, protectionism, reciprocity, dumping, optimum tariff, infant industry, Austrian school
Volume: 2001
Issue: 2
Year: 2001
File-URL: http://www.vse.cz/polek/211
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:2:id:211

Template-Type: ReDIF-Article 1.0
Author-Name: Radek Adamec
Title: Ekonomická věda a hospodářská politika
Title: Economics and economic policy
Abstract: The article is trying to introduce and defend the thesis that economic policy way not follow the theoretical foundations of economics but the development of economic theories from a number of reasons rather follows the practical outcomes of their "application" in economic policy than the opposite. The major criterion for the evaluation of an economic theory is it's success (or failure) when it can be seen as if it was "applied", i.e. only the potential of the application legitimises the economic theory (in opposite to "the empirical legality" in natural sciences) to becomes a popular and respected part of our scientific knowledge. Such an argument can provide, together with other methodological characteristics, an original insight into the evolution of economic knowledge from the point of view of the philosophy of science as well as it may serve for a self-reflection of the current state and method of the economic research.
Keywords: economic policy, methodology, application
Volume: 2001
Issue: 2
Year: 2001
File-URL: http://www.vse.cz/polek/212
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:2:id:212

Template-Type: ReDIF-Article 1.0
Author-Name: Tomáš Cahlík
Title: Analýza ekonomického výzkumu
Title: Analysis of economic research
Abstract: George J. Stigler in his Nobel price lecture in 1982 suggested to apply the ideas of economics of information on the market of new ideas of economic science. On the border between the economics of information and some other social sciences, co-word method and citation analysis are proposed for searching fundamental research themes and fundamental articles. In this article, these methods are applied to economics.
Keywords: economics of information, citation analysis, co-word analysis
Volume: 2001
Issue: 2
Year: 2001
File-URL: http://www.vse.cz/polek/213
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:2:id:213

Template-Type: ReDIF-Article 1.0
Author-Name: Jaroslav Krameš
Title: Počátky ekonomického myšlení v českých zemích
Title: Beginnings of economic thinking in the czech lands
Abstract: Economic thinking in the Czech Lands was closely related to development of economic thinking in the whole Austria, being based on mercantilism. Its Central-European form was cameralism focused on the building of a modern state. Its Czech representatives, e.g. P. H. Morgentaller, F. Š. Malivský and J. K. Bořek, became famous for their grandiose projects of economic advancement of the country. Political sciences that were intended for clerk education originated at the era of enlightenment; their final goal was the growth of population and/or employment. Prominent representatives were J. I. Butschek and L. L. Schultz. At the end of the 18th century, A. Smith's doctrine, ideas of economic liberalism and laissez-faire penetrated to the Czech Lands. In the mid-19th century, cameralism was replaced by classical political economy, represented by W. G. Kopetz, J. Buquoy and A. Lexa.
Keywords: cameralism, mercantilism, classical economy, political sciences
Volume: 2001
Issue: 2
Year: 2001
File-URL: http://www.vse.cz/polek/214
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:2:id:214